Yesterday, Politico Magazine put up a typical gloomy economic forecast article by contributing editor Michael Lind.
He quotes the same experts and the same stats we’ve become familiar with in these gloomy pieces: GDP growth above 2.5% is very difficult to achieve with a declining labor force; manufacturing jobs will never return to their previous levels due to automation; there will never be enough tech jobs available to create a massive demand for STEM training. Some of the points are usually worth considering, many are just pure leftist talking points.
But at the point of giving a prescription for how to deal with the economy moving forward – this is where Lind and Politico dive off the deep end of radical socialism.
Their prescription for our economy – What we need are 3 primary things:
1. More federal debt (to pay for an improved quality of life)
2. More taxes (to pay for the debt servicing)
3. Increased unionization of jobs (because – hey!! it worked so great 100 years ago!)
And that’s it. Oh, and we all need way better health care, a massively increased minimum wage, and nearly none of us should be forced to study all that nasty math and science in college – just give us good paying jobs and stuff.
And we need redistribution of wealth. Because people need more stuff. And more quality of life. And we all need lots more money – $22,000 a year for each of us.
But never mind asking where all that tax money and redistribution of wealth is going to come from, since their plan seems to encompass more than all the assets of every living, breathing person in America. I calculated their plan would cost at bare minimum an additional $2.86 trillion per year.
Politico – you should be absolutely embarrassed to suggest more debt, more taxes, and unionization as a way of pulling through the next century. You are right about one thing – even Bernie Sanders isn’t wacky enough to go as far as you do.
[here’s the source – for anyone with the stomach for this kind of utter tripe: http://www.politico.com/magazine/story/2016/03/trump-is-wrong-213651]